Egypt - Abu Qir Fertilizers (ABUK) acquired an 80-acre land from Egyptian General Petroleum Corporation (EGPC), according to the company’s March 9thstatement filed to the Egyptian Exchange.

The listed company will utilize the land in future expansion.

Abu Qir will be subject to new valuation as the company prepares to list additional shares, sources familiar with the matter said.

Pharos Holding estimated the fair value of Abu Qir Fertilizers’ share at EGP 23.00 per each, with an overweight recommendation.

Abu Qir Fertilizers is an Egypt-based company engaged in the agricultural chemicals sector. The company focuses on the production, distribution, and export of fertilizers, chemicals, and related products

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